Short the dollar if Biden wins the White House, Goldman Sachs suggests

The dollar may tumble to its lows of 2018 on the rising likelihood of Joe Biden winning the U.S. election and progress on a coronavirus vaccine, according to Goldman Sachs Group Inc.



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“The risks are skewed toward dollar weakness, and we see relatively low odds of the most dollar-positive outcome—a win by Mr. Trump combined with a meaningful vaccine delay,” strategists including Zach Pandl wrote in a note Friday. “A ‘blue wave’ U.S. election and favorable news on the vaccine timeline could return the trade-weighted dollar and DXY index to their 2018 lows.”

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The ICE U.S. Dollar Index has fallen more than 3% so far this year — trading just over the 93 level on Monday — as investors reacted to unprecedented pandemic-related monetary stimulus from the Federal Reserve and rock-bottom interest rates. The gauge traded below 89 in 2018, a level which would imply a further slide of more than 4%.

Goldman joins the likes of UBS Asset Management and Invesco Ltd. in predicting a weaker dollar as Biden extends his lead over President Donald Trump with less than three weeks to election day. It recommends investors short the dollar against a volatility-weighted basket consisting of the Mexican peso, South African rand and Indian rupee.

The strategists also suggest buying the euro, Canadian and Australian dollars against the greenback. The firm is keeping open long recommendations for the yuan through unhedged Chinese government bonds.

“The wide margin in current polls reduces the risk of a delayed election result, and the prospect for near-term vaccine breakthroughs may provide a backstop for risky assets,” they wrote.

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Amy Coney Barrett Rose Garden Event Was a WH COVID Superspreader, New Data Suggests

Shortly after judge Amy Coney Barrett’s nomination event at the White House’s Rose Garden, a number of those in attendance tested positive for COVID-19 and new data suggests that the event was a superspreader for the virus.



a group of people standing in front of a crowd: U.S. President Donald Trump announces 7th U.S. Circuit Court Judge Amy Coney Barrett as his nominee to the Supreme Court in the Rose Garden at the White House September 26, 2020 in Washington, DC.


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U.S. President Donald Trump announces 7th U.S. Circuit Court Judge Amy Coney Barrett as his nominee to the Supreme Court in the Rose Garden at the White House September 26, 2020 in Washington, DC.

According to data, that was released on Tableau Public by Peter James Walker, at least 37 cases of the new coronavirus were confirmed within 12 days after Barrett’s nomination event on September 26. In an email sent to Newsweek, Walker explained that the data is all crowd-sourced from public information, such as “tweets from verified reporters, news articles in trusted outlets, etc.”

Walker also noted that the site has an online tip line for anyone to forward new information, which is then verified with real articles before it is added to the tracker.

President Donald Trump and first lady Melania were two of the biggest names to test positive for COVID-19 after the event, but several other positive tests were reported shortly after.

The data shows that at least 11 people that attended the September 26 event tested positive for COVID-19.

In addition to Trump and the first lady, the data show the others who tested positive after attending the event include Washington-based photojournalist Al Drago, former New Jersey Governor Chris Christie, California Pastor Greg Laurie, University of Notre Dame President John Jenkins, White House press secretary Kayleigh McEnany, former counselor to Trump Kellyanne Conway, Utah Senator Mike Lee, North Carolina Senator Thom Tillis and a White House press corps journalist.

It is unclear how many of these people contracted the virus, but the Centers for Disease Control and Prevention notes that signs and symptoms of the virus can appear within two to 14 days after being

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Pelosi suggests Trump setting ‘dangerous’ example with quick return to White House

Speaker Nancy PelosiNancy PelosiGOP lawmaker calls on Pelosi to apologize for response to Trump contracting coronavirus Pelosi: ‘We’re making progress’ on coronavirus relief bill What President Trump’s positive COVID test could mean for the markets MORE (D-Calif.) suggested Monday that President TrumpDonald John TrumpQuestions remain unanswered as White House casts upbeat outlook on Trump’s COVID-19 fight White House staffers get email saying to stay home if they experience coronavirus symptoms White House says ‘appropriate precautions’ were taken for Trump’s outing to see supporters MORE‘s plan to return quickly to the White House was motivated by politics, not health and science, warning that the decision will set a dangerous example to a country still reeling under the weight of the coronavirus.

“The president could be going back to the White House and become a long-hauler, someone who has consequences from this virus,” she said in an interview with MSNBC. “He should not be dealing with it politically to make it look like he overcame the virus because he’s had such good policies. … In fact, he has been very destructive and dangerous to the country.”

Trump on Friday was admitted to Walter Reed National Military Medical Center in Bethesda, Md., less than 24 hours after he announced that he and first lady Melania TrumpMelania TrumpGOP lawmaker calls on Pelosi to apologize for response to Trump contracting coronavirus White House gave New Jersey officials list of 206 people at Trump’s Thursday fundraiser events Photo of Mark Meadows rubbing his head during update on Trump’s health goes viral MORE tested positive for COVID-19.

On Sunday, after initially refusing to answer pointed questions about the president’s symptoms, White House physician Sean Conley revealed that Trump’s condition had deteriorated to the point that he was given supplemental oxygen as well as the steroid dexamethasone, which has been used largely to treat severe cases of COVID-19.

Appearing at Walter Reed on Monday just moments after Pelosi spoke, Conley said Trump was clear to leave the facility and return to the White House. The president had not experienced a fever in 72 hours, Conley said, and his oxygen levels “are all normal.”

“Though he may not entirely be out of the woods yet, the team and I agree that all our evaluations, and most importantly his clinical status, support the president’s safe return home, where he’ll be surrounded by world-class medical care 24/7,” he said.

Conley has come under heavy scrutiny from the medical community for what some consider an overly rosy depiction of Trump’s condition and recuperation. Pelosi on Monday piled on, suggesting the president’s medical team is taking marching orders from Trump rather than delivering sound evaluations.

“I hope that we could trust them, but what is disconcerting is that we know that the president’s physicians present a report that must be approved by the president,” she said. “That’s not scientific. That is not what the public is owed about the state of health of the president of the United States.”

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US Futures Rise As President Trump’s Medical Team Suggests Monday Return To White House

U.S. futures spiked on Sunday night as of President Donald Trump’s healthcare providers expressed optimism over his timely return to the White House.

What Happened: Dr. Brian Garibaldi, a member of Trump’s medical team, said the President could be discharged from the Walter Reed Medical Center, where he is undergoing treatment for COVID-19, as early as Monday, and be back in the White House, CNN reported.

Garibaldi’s comments came amid uncertainty over Trump’s health, with contradicting reports. The president’s physicians had revealed earlier in the day that he was being treated with dexamethasone, a powerful steroid reserved for extreme COVID-19 cases, CNBC reported.

Dr. Vin Gupta, a faculty member at the University of Washington’s Institute for Health Metrics and Evaluation, told CNBC that the disclosure indicates the president may be suffering from pneumonia.

Trump’s physician Dr. Sean Conley said that Trump had suffered two episodes of transient drops in his oxygen saturation, according to CNN.

“It was a determination of the team based on the timeline from the initial diagnosis that we initiate dexamethasone,” said Conley.

The president left the hospital briefly on Sunday — to be driven around in an SUV in order to greet his supporters, CBS News reported.

Why It Matters: Dr. Nahid Bhadelia, an infectious disease specialist at the Boston University School of Medicine, told CNBC that she would not discharge someone who was just put on steroids.

Conflicting accounts of the president’s treatment have emerged since Saturday as his doctors remain evasive on key health parameters including on whether he required supplemental oxygen.

Meanwhile, several members of the president’s inner circle at the Republican party have tested positive for COVID-19, including three senators.

Price Action: S&P 500 futures rose 0.77% to 3,365, while Dow Jones Industrial Average Futures gained 0.78% to 22,779. Nasdaq futures traded 1.06% higher at 11,352.50 at press time.

Photo courtesy: Michael Vadon via Wikimedia

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Trump suggests military and police to blame for staff getting COVID-19

  • President Donald Trump tested positive for COVID-19 just hours after his aide and close adviser Hope Hicks did.
  • Speaking to Fox News’ Sean Hannity Thursday evening, Trump suggested that members of the military or law enforcement may be responsible for giving Hicks the coronavirus.
  • “It’s very hard when you’re with soldiers, when you’re with airmen, when you’re with the Marines, and the police officers,” he said. “When they come over to you, it’s very hard to say ‘stay back, stay back.’ You know, it’s a tough kind of situation.”
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Just a few hours before he and his wife tested positive for COVID-19, President Donald Trump suggested that interactions with the military and police were to blame for a member of his staff falling ill.

After news broke Thursday evening that senior aide and presidential adviser Hope Hicks had tested positive for COVID-19 after traveling with the president, Trump told Fox News’ Sean Hannity that she might have caught the virus from a member of the military or someone from law enforcement.

“She wears masks a lot, but she tested positive,” Trump told Hannity, before explaining that he and the First Lady had gotten tested because they spent a lot of time with Hicks.

“It’s very hard when you’re with soldiers, when you’re with airmen, when you’re with the Marines, and the police officers,” he continued. “When they come over to you, it’s very hard to say ‘stay back, stay back.’ You know, it’s a tough kind of situation. It’s a terrible thing.”

“It is very very hard when you are with people from the military or from law enforcement and they come over to you,” Trump said. “They want to hug you, and they want to kiss you because we really have done a good job for them.”

“You get close, and things happen. I was surprised to hear with Hope, but she’s a very warm person with them,” he said. “She knows there’s a risk, but she young.”

Hicks frequently comes in contact with active-duty military who fly the president’s aircraft, serve as ceremonial guards and greet him and top officials when he visits their bases. The president did not mention a specific instance when troops recently hugged Hicks. It’s extremely unlikely for a service member in uniform to breach protocol with a hug, especially during a pandemic.

Early Friday, Trump announced on Twitter that he and First Lady Melania Trump had tested positive for COVID-19.

It remains to be seen if the president will attempt to use the military or law enforcement as a possible explanation for his own positive test.

Trump has repeatedly downplayed the severity of COVID-19, a virus that has infected millions in the US and claimed the lives of 200,000 Americans.

He has also mocked political opponent and Democratic presidential nominee Joe Biden for wearing masks and keeping his distance from supporters at events.

It is unclear where the president

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